Value brings us joy, but price only happiness.

The plain truth is thatMr. Market often tells us only the price instead of the value of our stocks. We need to differentiate between the two – price is what we pay, while value is what we get. Value
brings us joy, but price only happiness. Joy comes from the intrinsic value of the business we own, but happiness hinges more on external price swings (we figure we can afford to be a bit more philosophical in a bear market, as we are in no hurry to make any purchases). So buy great businesses at discounts to their intrinsic value.

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